There are many different times when somebody can receive a structured settlement. Structured settlements are often the result of personal injury claims, lottery winnings, and insurance claims just to name a few. In general structured settlements benefit both the paying party and the receiving party. The payer has more time to generate the money and the receiver can augment their income with a known schedule of payments.
Sometimes a person receiving payments from a structured settlement cannot afford to wait for the next payment. They may need money immediately for paying down debt, paying for their education, buying a house, medical bills or another expense that they cannot cover without additional money. In these situations it is not uncommon for the structured settlement payments to be sold for a lump sum payment.
There are a lot of companies that will purchase your structured settlement payments but it is important to make sure that you work with a company that can offer you the best payment. Some companies buy your payments with the intention of selling them to a bank at a higher price. This means that you are not getting the same value you could if you worked with the bank directly.
Working with a bank can help you get the most money for your structured settlement payments. An example of a bank that buy structured settlement payments is AnFed Bank. Anfed Bank is an established company that is a division of BofI Federal Bank. Because BofI Federal Bank is a publically traded company (NASDAQ: BOFI), AnFed has a responsibility to the shareholders not to be dishonest. Working with a bank can give you peace of mind that you are working with experienced professionals.
Whenever you need to sell your structured settlement you want to make sure that you are getting the best possible return. To help prevent a company making a profit by selling your structured settlement for more than they were willing to pay to you, work with a bank that can help you get the best value.
